bloomberg.com Archives - 09 March 2013, Saturday

A probe into the death of an American research engineer in Singapore was discussed at a meeting between U.S. Secretary of State John Kerry and Democrat Senator Max Baucus of Montana , the family of the deceased said. Rick Todd said the family disputed the Singapore police’s conclusion...

CapitaLand Ltd. (CAPL) headed for the lowest close in three months, leading declines among the city’s property stocks, on speculation the government will introduce additional measures to cool the housing market. Southeast Asia’s biggest developer sank as much as 3.5 percent to S$3.60 ...

Singapore Exchange Ltd. (SGX) will increase revenue from derivatives 10 percent to 15 percent this year as the operator of Southeast Asia’s biggest bourse introduces more products linked to benchmark stock indexes in the region, President Muthukrishnan Ramaswami said in an interview. ...

U.S. Senator Max Baucus said he is “nowhere close” to resolving his questions about the death of an American research engineer in Singapore . Baucus, a Montana Democrat, met on March 5 with Singapore’s ambassador to the U.S., Ashok Kumar Mirpuri, and said yesterday he has more meeting...

A.P. Moeller-Maersk A/S (MAERSKB) , owner of the world’s biggest container-shipping company, plans to add more vessels to its Singapore base after making the city-state its biggest hub after the headquarters in Denmark. Maersk has about 120 ships under the Singapore flag, the most aft...

The Federal Bureau of Investigation will assist Singapore police in a probe into the death of an American research engineer in the Asian city. The Singapore police had asked the family of Shane Todd to share any evidence in their possession related to his death with the local authorit...

Singapore Finance Minister Tharman Shanmugaratnam said there’s no need for monetary stimulus in a country with full employment, leaving policy makers reliant on unorthodox tools to prevent asset bubbles. “We don’t have an output gap, and evidence of that is in an extremely tight labor...

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Currency strategists are abandoning their forecasts for a record-setting rally in the Singapore dollar as government measures to rein in property prices reduce pressure on the central bank to cool inflation. The local dollar will likely rise 2.2 percent to S$1.21 versus its U.S. count...

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UBS AG was sued for wrongful dismissal by two former traders in Singapore who claimed they were fired in a bid by the bank to cover up its role in allegedly manipulating key reference rates. Mukesh Kumar Chhaganlal, the bank’s former co-head of macro-trading for emerging markets in As...

Coach Inc. (COH) , the largest U.S. luxury- handbag maker, rose after DealReporter said there is speculation the company may consider a sale. The shares climbed 2.8 percent to $47.82 at the close in New York . The New York-based company slid 14 percent this year, compared with a 6.7 p...

Singapore plans to raise taxes for luxury homeowners and investment properties, widening a four- year campaign to curb speculation after prices in Asia ’s second- most expensive housing market rose to a record. The higher tax will apply to the top 1 percent of homeowners who live in t...

Singapore ’s industrial production unexpectedly declined in January as demand for electronics and pharmaceuticals faltered. Manufacturing fell 0.4 percent from a year earlier after a revised 1.3 percent gain in December, the Economic Development Board said in a report today. The media...

Singapore plans to raise property levies for luxury homeowners as it seeks to tax the wealthy residents in the island state after the government imposed more measures to curb property speculation last month. Singapore will raise tax rates for vacant investment properties or those that...

Singapore’s inflation slowed more than economists estimated in January as gains in food and housing costs eased. The consumer price index rose 3.6 percent from a year earlier, after climbing 4.3 percent in December, the Department of Statistics said in a statement today. The median es...

Enlarge image Burberry to Tiffany Seen Attracting LVMH as Sales Slow Alessia Pierdomenico/Bloomberg Louis Vuitton-branded shoes sit on display inside the company's "Etoile" store in Rome. While an acquisition of another luxury line could help to boost growth at LVMH, the company is st...

Singapore , which is planning to send a citizen into space in 2015, said it hopes its foray into space technology will become as important a growth driver as its biomedical industry. The country can leverage its electronics sector to help develop a satellite industry, Ow Foong Pheng, ...

Singapore ’s economy grew more than economists estimated last quarter after a smaller contraction in manufacturing, adding to evidence of resilient growth in Asia . Gross domestic product rose an annualized 3.3 percent in the three months through December from the previous quarter, wh...

When Weber became CEO in 2001, he was Brooks’s fourth leader in about two years and the company was “basically bankrupt,” he said. At the time, the company was owned by private-equity firm J.H. Whitney & Co. Weber, who sat on the Brooks board, decided to aggressively focus the Bothell...

Singapore will probably force companies to further reduce their reliance on foreign labor in the 2013 budget, after a public backlash against the influx of workers led to the biggest demonstration in more than a decade. Finance Minister Tharman Shanmugaratnam may cut the ratio of over...

Enlarge image LVMH Raises Vuitton Japan Prices Most Ever to Fight Weak Yen Balint Porneczi/Bloomberg Shoppers stand in line and wait for access into a Louis Vuitton store in Paris. “In the last two or three years, Japanese customers were buying more and more abroad just to take advant...

A high-speed rail link between Singapore and the Malaysian capital of Kuala Lumpur may be completed by 2020, leaders of the two countries said today. The rail network will be a “huge game changer” and transform the way the two countries do business, Malaysian Prime Minister Najib Raza...

Singapore home sales rose 43 percent in January from the previous month as buyers rushed to purchase homes right after the government announced cooling measures to ease residential prices. Home sales increased to 2,013 units in January from 1,410 units in December, according to data r...

Singaporeans are raring to do something extraordinary: protest. That might not seem like a big deal with the Arab Spring uprisings; Chinese journalists taking to the streets; and thousands of typically docile Japanese rallying against government policies. But tropical Singapore is the...

When Vladimir Putin says the U.S. is endangering the global economy by abusing its dollar monopoly, he’s not just talking. He’s betting on it. Not only has Putin made Russia the world’s largest oil producer, he’s also made it the biggest gold buyer. His central bank has added 570 metr...

For decades, fashionistas have known that a Birkin bag is a safe style bet -- if you can get your hands on one. That demand makes its producer, Hermes International SCA, the surest bet in the luxury industry when it comes to sales growth. With waiting lists that can run more than a ye...

The U.S. military is testing the use of foam injections as a way to staunch internal bleeding of soldiers wounded on the battlefield. The technology may also eventually save the lives of civilians injured in car or other serious accidents far from a hospital emergency room. Expanding ...

Singapore, which is boosting infrastructure to accommodate a population of 6.9 million by 2030, said the number of people in the city state will be “significantly” lower than what it is planning for. The government won’t decide on a population trajectory beyond 2020, Prime Minister Le...

National University of Singapore, the city’s oldest, will allow a campus drug store to stock condoms after they were pulled from its shelves this week. “The university does not restrict the sale of condoms on campus, and vendors can decide if they would like to carry these items,” the...

Swiss International Air Lines Ltd. is exploring services on the Geneva-Beijing route as the entry of Air China Ltd. opens up potential for a code-share partnership. Demand is being driven by a surge in the number of Chinese citizens vacationing in Europe, Chief Executive Officer Harry...